30-Nov-2012 10:43 AM

GMR to challenge cancelllation of Male Airport concession

India's GMR Infrastructure released (29-Nov-2012) a statement on the decision of the Government of the Maldives to void the 25-year build-operate-transfer contract of GMR Male International Airport Ltd (GMIAL) for Male International Airport and take possession and control of the airport. GMR stated the termination of the concession agreement is unlawful and premature and is being challenged by the company on legal grounds. GMR disputed the agreement can be made void. It also noted the action has been taken while a disagreement over the contract and fees/charges at the airport and those to be paid to GMR are under arbitration in a Singaporese court. [more - original PR]

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